StockNews.com Begins Coverage on Accelerate Diagnostics (NASDAQ:AXDX)

StockNews.com started coverage on shares of Accelerate Diagnostics (NASDAQ:AXDX) in a report issued on Friday. The firm issued a hold rating on the medical research company’s stock.

Accelerate Diagnostics Trading Up 3.5 %

Accelerate Diagnostics stock opened at $1.76 on Friday. Accelerate Diagnostics has a 12 month low of $0.73 and a 12 month high of $7.00. The business’s fifty day simple moving average is $1.58 and its two-hundred day simple moving average is $1.24. The company has a market capitalization of $38.81 million, a price-to-earnings ratio of -0.43 and a beta of 0.62.

Accelerate Diagnostics (NASDAQ:AXDX) last released its quarterly earnings data on Thursday, August 8th. The medical research company reported ($0.50) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.05. The firm had revenue of $2.99 million for the quarter, compared to the consensus estimate of $3.00 million. On average, equities research analysts predict that Accelerate Diagnostics will post -2.14 EPS for the current year.

Institutional Trading of Accelerate Diagnostics

An institutional investor recently raised its position in Accelerate Diagnostics stock. Griffin Asset Management Inc. lifted its holdings in shares of Accelerate Diagnostics, Inc. (NASDAQ:AXDX) by 1.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,380,654 shares of the medical research company’s stock after buying an additional 26,400 shares during the period. Griffin Asset Management Inc. owned approximately 6.26% of Accelerate Diagnostics worth $1,615,000 at the end of the most recent reporting period. 17.14% of the stock is currently owned by institutional investors and hedge funds.

Accelerate Diagnostics Company Profile

Accelerate Diagnostics, Inc, an in vitro diagnostics company, provides solutions for the diagnosis of serious infections in the United States, Europe, and the Middle East. The company offers Accelerate Pheno system, an in vitro diagnostic platform for the identification and antibiotic susceptibility testing of pathogens associated with serious or health care-associated infections, including gram-positive and gram-negative organisms.